Representatives of Ola and Uber declined to comment on the proposed cap on fares and whether they had agreed to restrict surge pricing to .45x.

Uber said in an official statement later that the company was “committed to continue to engage with the government” towards ensuring that it works in the best interest of “riders and driver partners and provides Calcutta with reliable transportation options”.

The focus of the marathon meeting between the app-cab aggregators and the transport minister in Kasba had apparently focused on scaling down surge pricing – the operators call it “dynamic pricing” – to 25 per cent of the total rides a day, something both agreed to consider.

Both the app-cab operators were told that the government was looking at a base price that is loosely a summation of what an air-conditioned meter taxi charges, plus a service charge per km.

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TWIP is a digest of pricing focused news, thought leadership, events, training and certification resources for pricing professionals. This Edition is brought to you by: The Perfect Price AI platform makes millions of pricing decisions for forward-thinking companies around the world. Our cloud-based service allows customers to quickly anticipate and react to changes in demand in real-time […]